Avegant has announced today that the company closed $12 million in Series AA funding from new investors Walden SKT Venture Fund and China Walden Venture Investments III, as well as previous investors. Avegant CEO, Ed Tang, commented:
“The consum
er AR industry faces significant challenges developing displays that are high resolution, small form factor, large field-of-view, light field, and low power. The industry is excited about our unique solutions to these technical challenges, which will enable previously impossible AR experiences”.
Earlier this year, Avegant focused its operations on its display technologies which are targeted for the consumer market. Avegant’s current research builds on its light field technologies and the retinal displays first used in Avegant’s video headset.
Avegant’s video headset.
According to Dr. Om Nalamasu, president of Applied Ventures and CTO of Applied Materials:
“Applied is
excited to use its materials engineering technologies to enable new inflections like AR/VR, which require advanced displays, high-performance computing and lots of memory. We are working with Avegant to accelerate the development of their light field technology to create compelling AR applications”.
